Tax & Accounting Blog

Greece Announces Implementation of EU Directive on Automatic Exchange of Country-by-Country Reports

Greece Announces Implementation of EU Directive on Automatic Exchange of Country-by-Country Reports

On August 24, 2017, Greece issued Circular 1131 with respect to Law No. 4484-2017 (published in the official gazette on August 1, 2017), which implemented EU Directive 2016/881 (the “Directive”) into Greek legislation regarding the mandatory automatic exchange of country-by-country (CbC) reports. See BEPS Action 13. The Directive amends Directive 2011/16, … Read More

Portugal Implements EU Directives on Exchange of Tax Rulings and CbC Reports

Portugal Implements EU Directives on Exchange of Tax Rulings and CbC Reports

On August 24, 2017, Portugal published Law No. 98/2017 in the official gazette, which implements EU Directives 2015/2376 and 2016/881 on the automatic exchange of tax ruling and CbC reporting information among EU member states, respectively. The measures apply retroactively from January 1, 2017. Tax Rulings (BEPS Action 5) Building on the … Read More

Q&A: Jeff Law, Executive Director & Chief Appraiser for Tarrant Appraisal District

Q&A: Jeff Law, Executive Director & Chief Appraiser for Tarrant Appraisal District

Fort Worth has always been home to rugged individualists with a pioneering spirit. Established in the mid-19th century as an Army outpost along the Trinity River, it stockyards became a welcome stop for rough and rowdy cowboys driving cattle along the Chisholm Trail and earning a section of the city a distinctive nickname: “Hell’s Half … Read More

OECD Releases Additional Guidance on Country-by-Country Reporting

OECD Releases Additional Guidance on Country-by-Country Reporting

On September 6, 2017, the OECD’s Inclusive Framework on BEPS released two sets of guidance for tax administrations and MNE groups regarding the implementation and operation of country-by-country (CbC) reporting. See BEPS Action 13. Existing guidance on the implementation of CbC reporting has been updated to address the following issues: Definition of … Read More

U.S. IRS Publishes List of Negotiating Countries for the Exchange of Country-by-Country Reports

U.S. IRS Publishes List of Negotiating Countries for the Exchange of Country-by-Country Reports

The U.S. Internal Revenue Service (IRS) has updated its country-by-country (CbC) reporting jurisdiction status table, as of August 29, 2017, to include jurisdictions that are negotiating bilateral competent authority arrangements (CAAs) with the U.S. to exchange CbC information. The table also includes jurisdictions that have signed a CAA with the U.S. to exchange CbC … Read More

BEPS the Major Topic at IFA Congress in Rio de Janeiro

BEPS the Major Topic at IFA Congress in Rio de Janeiro

The 71st Congress of the International Fiscal Association (IFA) was held in Rio de Janeiro between August 27 and September 1, 2017. Thomson Reuters was proud to be a Gold sponsor at the Congress, showcasing how we can help businesses navigate BEPS compliance. Understandably, BEPS was the major topic at the Congress, but other … Read More